HD Hyundai Oilbank Accelerates Eco-Friendly Business from Waste Tires to Hydrogen

HD Hyundai Oilbank is accelerating its eco-friendly future businesses, ranging from recycling waste tires to hydrogen.

HD Hyundai Oilbank has joined the 'Korean-style Black Cycle' consortium to establish a domestic circular economy model for waste tires. The Korean-style Black Cycle is a business model that replaces the chemical raw materials previously used for tire production with recycled raw materials made from collected waste tires.

HD Hyundai Oilbank's high-purity hydrogen refining facility (Photo by HD Hyundai Oilbank)

HD Hyundai Oilbank, along with its affiliates HD Hyundai Chemical and HD Hyundai OCI, plans to produce circular products such as naphtha, butadiene, carbon black, and process oil?refined from pyrolysis oil of waste tires?and supply them to tire manufacturers. They are also applying recycled plastic materials to product containers and conducting a pyrolysis oil business from waste plastics.

Furthermore, HD Hyundai Oilbank is promoting various eco-friendly new businesses including blue hydrogen, white bio, and eco-friendly chemicals and materials. To build hydrogen supply infrastructure, they have signed strategic business agreements with global companies and are advancing projects such as hydrogen fuel cell power generation using blue hydrogen and developing ammonia cracking catalysts for clean hydrogen production. They are also pursuing a 20MW scale hydrogen fuel cell power generation project in line with the Clean Hydrogen Power Standard (CHPS).

As a future growth engine, they are accelerating next-generation white bio businesses. They have established a three-stage bio business roadmap that includes constructing a biodiesel manufacturing plant, producing next-generation bio jet fuel, and entering the bio-chemical business. Currently, the biodiesel plant is under construction, and they plan to expand the eco-friendly product value chain by producing biofuels and bio-chemical products in the future.

A representative from Hyundai Oilbank explained, "We are conducting research on electrolyte membrane materials for hydrogen fuel cells to advance eco-friendly chemical and material businesses," adding, "We are preparing to expand into the water electrolysis field. We are also reviewing technologies to capture carbon dioxide and convert it into low-carbon fuels or materials."

This content was produced with the assistance of AI translation services.